Thursday, April 25, 2024
Thursday, April 25, 2024
This Tuesday INSIDER Daily Digest has an analysis of the latest budget deal hammered out between congressional Republicans and Democrats and its effects on defense spending, along with news on Air Force Space Command, Lockheed Martin's latest earnings report and more.
Inside Defense has a deep dive into the full effect of the Budget Control Act on Pentagon spending:
Budget deal clarifies total BCA impact on DOD across decade: $580B
The new two-year budget agreement means the Defense Department will absorb about $580 billion in reductions between fiscal years 2012 and 2021, far less than the $1 trillion worst-case scenario that originally loomed as part of the 2011 Budget Control Act, but still substantial reductions compared to plans set by U.S. military leaders in 2011.
More budget news:
New budget deal provides $738B for defense in FY-20, $740B in FY-21
A new, two-year bipartisan budget deal reached by the White House and congressional Republicans and Democrats would set total defense spending for fiscal year 2020 at $738 billion, $12 billion short of the $750 billion sought by the White House and GOP, according to government sources.
In a recent memo to senior Defense Department leadership, Pentagon acquisition chief Ellen Lord outlines a draft policy establishing a new acquisition pathway for software:
Pentagon readies new policy for software acquisition 'pathway'
The Pentagon has drafted a new policy to guide software acquisitions, and officials are preparing to test out the pathway through wargaming next month, according to documents obtained by Inside Defense.
Air Force Space Command's Director of Operations and Communications Brig. Gen. DeAnna Burt recently spoke at an Air Force Association Mitchell Institute event:
AFSPC advocating for new Space Test and Training Group
Air Force Space Command is working to boost its test and training range infrastructure and is eyeing the creation of a new Space Test and Training Group in the next five to 10 years.
Lockheed Martin reported quarterly earnings this morning:
Lockheed CEO: Since Turkey F-35 decision, company has sought alternate supply sources
Lockheed Martin has already taken actions to address Turkey's suspension from the F-35 program and expects limited "future production or sustainment impact," the contractor's chief executive said today.
Lockheed is also the beneficiary of a new, billion-dollar missile defense contract:
MDA awards Lockheed $1.4B for Saudi-bound THAAD interceptors
The Missile Defense Agency has awarded Lockheed Martin a $1.4 billion contract for production of Terminal High Altitude Area Defense interceptors on behalf of Saudi Arabia, a major down payment toward a planned $15 billion acquisition by the desert kingdom of seven THAAD batteries.
Huawei is under the microscope again after a new Washington Post story:
Trump flags Huawei 5G risks for further study amid reports of company working with North Korea
President Trump said his administration will be looking into recent media reports that China-based Huawei has been working with North Korea in its build-out of 5G networks, while also suggesting the United States has a strong working relationship with North Korean President Kim Jong-un.